CA unable to break through key resistance level
CA, Inc. (CA) Technical Analysis Report for Apr 16, 2018
CA finished Monday at 35.00 gaining $0.49 (1.42%). Today's closing price of 35.00 marks the highest close since March 21st. Closing above Friday's high at 34.70, the market confirms its breakout through the previous session's high having traded $0.47 above it intraday.
Monday's trading range was $0.47 (1.35%), that's below last trading month's daily average range of $0.88. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
Unable to break through the key technical resistance level at 35.09, CA, Inc. closed below it after spiking as high as 35.17 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The share managed to break above the 50-day moving average at 34.63 today for the first time since February 12th.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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